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Surgical Simulation Market To Witness 16.4% CAGR during 2020–2030

Published Date:   May 2020

The number of surgeries being performed is rising, and several advanced products are being introduced in the medical device industry. Moreover, the geriatric population is increasing, as is the preference for minimally invasive surgeries (MIS). All these factors are together expected to drive the global surgical simulation market at a 16.4% CAGR from 2020 to 2030; the market size in 2019 was $337.4 million.

Surgical Simulation Market Segmentation

Surgical Simulation Market

In the years to come, the faster rise in demand will be for services, as, apart from merely procuring the simulators, having the technical know-how is also necessary. Therefore, simulation equipment providers collaborate with simulator users to offer medical professionals and students education, in order to help them improve their operative skills. Similarly, the vendors also provide technical services, to help educational institutes and healthcare centers understand how to use the simulators.

The usage of surgical simulators has been the highest at academic & research institutes up till now, owing to the rising demand among professionals and students for first-hand and more-realistic training. Moreover, government funding to an increasing number of such educational centers, to adopt advanced training solutions, is also driving the growth of this category.

The highest CAGR in the industry in the near future is expected in Asia-Pacific (APAC). This is attributed to the growing geriatric population and rising medical tourism activities in the region. In addition, to sustain themselves and augment their revenue, solution providers are increasing their presence in the unexplored markets of APAC, thus leading an increasing adoption here.

Collaborations and Partnerships Being Seen as Engine of Growth by Market Players

Market players are rapidly forming collaborations and partnerships to better their position in the industry, by utilizing each other’s technology, product portfolio, customer base, research teams, and geographical reach.

For instance, in September 2019, VirtaMed AG initiated a collaboration with Smith & Nephew plc to offer training for advanced surgical simulation systems. Working with Smith & Nephew’s experts, VirtaMed is identifying the key learning areas related to each arthroscopic surgical technique and adding them into new simulation modules, by integrating photorealistic virtual reality (VR) simulation with anatomically correct models.

Browse report overview with detailed TOC on "Surgical Simulation Market Research Report: By Offering (Products {Endoscopic, Laparoscopic, Cardiac, Gynecological, Arthroscopic, Neurological}, Services {Educational, Technical}), End User (Academic and Research Institutes, Hospitals, Surgical Clinics, Military Organizations) - Global Industry Analysis and Growth Forecast to 2030" at:https://www.psmarketresearch.com/market-analysis/surgical-simulation-market

In the same vein, in July 2019, Siemens Healthineers partnered with Mentice AB to fully integrate the latter’s VIST virtual patient into its Artis icono angiography system. The collaboration is aimed at studying new interventional methods and exploring the usage of new medical devices, while reducing the receipt of training by students via real patients and eliminating radiation exposure.

Mentice AB, CAE Inc., Simulab Corporation, 3D Systems Corporation, MEDICAL-X, Limbs & Things Ltd., VirtaMed AG, Voxel-Man, Inovus Ltd., OSSimTech, 3-Dmed, eoSurgical Ltd., Gaumard Scientific Company Inc., Laparo Sp. z.o.o., CATHI GmBH, LAERDAL MEDICAL AS, Surgical Science Sweden AB, and Simendo Company are the major global surgical simulation market players.

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